US indices resumed a drop yesterday with all major Wall Street benchmarks finishing trading significantly lower. S&P 500 dropped 1.65%, Dow Jones moved 1.02% lower and Nasdaq slumped 3.18%. Russell 2000 moved 2.48% lower
Indices from Asia-Pacific followed the US lead and also moved lower. Nikkei and S&P/ASX 200 dropped 1.7%, Kospi moved 1.5% lower and indices from China traded 0.5-2.4% lower
DAX futures point to a lower opening of the European cash session
Fed’s Bullard said that a 75 basis point rate hike is not his base case scenario for the next FOMC meeting
Vice Governor Chen from the People’s Bank of China said that the central bank will increase financial support to the real economy
Cryptocurrencies continue to collapse – Bitcoin trades 7% lower and drops below the $27,000 mark while Ethereum trades over 12% lower on the day and approached the $1,800 area
Precious metals are giving back part of recent gains as the US dollar regains ground following yesterday’s higher-than-expected CPI reading
Oil halted the advance and began to slide. Brent and WTI trade 1.3% lower each with WTI pulling back below $105 per barrel
USD and JPY are the best performing major currencies while AUD and NZD lag the most
Small-cap Russell 2000 (US2000) has been dropping hard along with other Wall Street indices in recent days. US2000 broke below the short-term trading range and reached a textbook range of a downside breakout at 1,720 pts. The index is trading a 18-month low.
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